Within how many days after starting an account-based relationship must a reporting entity ordinarily file the client’s electronic KYC record with the Central KYC Records Registry?
Question and options
Within how many days after starting an account-based relationship must a reporting entity ordinarily file the client’s electronic KYC record with the Central KYC Records Registry?
5
10
20
15
Answer and explanation
Correct answer: B - 10
Rule 9(1A) of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 requires every reporting entity to file the electronic copy of the client's KYC records with the Central KYC Records Registry within ten days after the account-based relationship begins. The period was three days before the 2018 amendment.
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